Tritax EuroBox plc has agreed a second lease at its two-unit asset in Settimo Torinese, a prime logistics location near Turin. The new six-year lease has been secured with the same leading Italian logistics provider which signed a lease for the other unit in August 2023. Summary: The letting is for the second unit (14,197 sqm) at the company's 28,287 sqm two-unit development, well-located adjacent to the A4 'Turin-Trieste' motorway in Settimo Torinese, 14km east of Turin and 125km west of Milan.

The six-year green lease includes a further six-year extension option and includes annually reviewed inflation-linked uplifts. The agreement of this second unit, to the same leading Italian logistics specialist which leased the other half of the property, means the asset is now fully let and de-risks income previously subject to rental guarantees. The rent agreed is 8% above both the Estimated Rental Value (ERV) as at March 2023 and the rent agreed for the first unit, which was signed in August 2023 and commenced on 1st October.

The building includes a roof-mounted solar PV scheme and other sustainability features that reduce its environmental impact. These support the targeted BREEAM Very Good rating. Brownfield regeneration of a former tyre manufacturing warehouse, with the completed development improving the local environment and providing new employment opportunities for local communities.